Prime Minister Nominee Minseok Kim: "A Second IMF Crisis... I Will Prioritize Public Livelihood and Unity Every Day"

Prime Minister nominee Minseok Kim (61) stated on June 5, "We are facing a difficult situation akin to a second International Monetary Fund (IMF) crisis," adding, "I will make it a daily priority to address both public livelihood and social unity."

Prime Minister nominee Minseok Kim is answering questions from the press as he arrives at the confirmation hearing office set up at the Financial Supervisory Service Training Institute in Jongno-gu, Seoul on June 5, 2025. Photo by Jinhyung Kang

On his way to the office set up at the Financial Supervisory Service Training Institute in Tongui-dong, Jongno-gu, Seoul, Kim met with reporters who asked about his nomination. He responded, "I feel an infinite sense of responsibility." He continued, "I will never forget the gratitude I owe to the people," and emphasized, "The new government will revere the collective intelligence of the people as if it were the sky."

Kim revealed that he was not informed in advance of President Lee Jaemyung's plan to nominate him as Prime Minister. However, he said, "After the announcement of my nomination, I naturally had opportunities to discuss various state affairs," and added, "Although there were no direct requests from the President, I believe it was implied that I should do my utmost."

Regarding the future formation of the cabinet, Kim answered indirectly, saying, "I understand that during the election period, the President considered two things: the ability to steer the government through extremely challenging times, and a sincere commitment to the people." He added, "I believe President Lee intends to allow a diverse range of individuals to participate in state affairs."

The previous day, President Lee issued his first executive order after taking office, instructing the formation of an "Emergency Economic Task Force (TF)" and emphasizing the revival of the people's economy as the top priority of state affairs. Kim expressed concern, saying, "During the IMF crisis 28 years ago, there was a tremendous economic shock, but the economic trend was upward. Now, however, the trend itself is downward and stagnant, making the situation much more difficult." He further noted, "The international environment involving the United States, Japan, China, Russia, and North Korea is several times more complex." He added, "Although I have yet to pass the confirmation hearing, even during the preparation process, I will do my utmost to listen to the voices of the people and various sectors of society on how to overcome the current livelihood crisis."

When asked about the future division of roles between the President and the Prime Minister, Kim replied, "It is not appropriate to use terms like authority or real power in the relationship between the President and the Prime Minister," and stated, "We will operate according to the Constitution and laws of our country." He continued, "Ours is a presidential system, and party politics are stipulated in the Constitution. President Lee himself referred to it as a 'Democratic Party administration, Lee Jaemyung government.' Because I am in full agreement?100%, 200%?with the Democratic Party's philosophy, its promises, and President Lee's policy direction, I will do my utmost to assist in the administration of state affairs."

Meanwhile, the National Assembly is expected to soon form a special personnel hearing committee for Kim's nomination and finalize the schedule for the confirmation hearing.

This content was produced with the assistance of AI translation services.